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CNBC
Sep 11, 2012 9:00pm EDT
ever heard of zug in the united states. hans marti, who heads zug's economic development office, showed off the nearby snow-covered mountains. but zug's main selling point isn't a view of the alps. how low are the taxes here? >> it's something between 15% and 16%. >> and in the united states, it's 35%. >> i know. it's half, half price. >> and do you have the lowest tax rate in switzerland? >> most probably, yes. >> most probably, yes. so you're kind of a tax haven within a tax haven. >> [laughs] maybe, yes. >> yeah, yeah, yeah. >> the population of the town of zug is 26,000. the number of companies in the area: 30,000 and growing. but many are no more than mailboxes. texas democratic congressman lloyd doggett questions whether the moves of several companies are legit. >> a good example is one of my texas companies that's been in the news lately, transocean. >> transocean owned the drilling rig involved in the giant bp oil spill. they moved to zug. >> i'm not sure they even moved that much. they have about 1,300 employees still in the houston area. they have 12 or 13 in switzerla
CNBC
Sep 26, 2012 4:00pm EDT
important to the united states than what's going on in europe. >> mark, how do you see it? you invested in europe these days or no? >> a little bit, maria. you know, i guess the thing i would say about europe and soon to watch on our shores is you're going to pay more and get less. i look forward to the dislocation between price and value. i think there are a few opportunities in europe selectively. a company we own called securitas, which is a man-guarded service. it trades for about 50 krona. we think it's worth 72. we get about a 6% dividend yield. there's an example where you can find opportunity. >> everybody's looking for yield in an environment where we can't find any. rick, what are you seeing there today? >> you had a great point. everybody's looking for yields, so everybody needs to take more risk. that's the plan. the problem is, when you take more risk to get more reward, you have more risk. you know, take the word austerity and throw it out. use the word reform. one guest just said central bankers are doing all the heavy lifting. because the heavy lifting for them is easy.
CNBC
Sep 13, 2012 6:00am EDT
building bridges between the united states and the arab and muslim world, particularly libya. and i think this is going to sour a lot of americans about the future trajectory of the middle east, about the direction in which the arab spring is headed. and i think particularly this is tragic for syrians. syrians who are now under siege or around 20,000 syrians have been killed by the regime of assad and i think many syrians were hoping for an outside intervention or outside aid to provide some type of save zones. and i think the reality is that after the united states and nato had gone into libya it oust gadhafi, i think there will be far less appetite to want on do anything in syria. >> probably also raises huge questions about money from america that is going to fund some of these governments particularly in egypt where it's $1.5 billion plus another billion that was being put together in a package right now. how do you think that plays out in congress at this point? >> that's absolutely right. egypt is a country which has i think the second or third largest aid package from the uni
CNBC
Sep 25, 2012 9:00pm EDT
natanz-- >> where do those two sets intersect? >> you're pretty much left with the united states and israel. >> well, yes, but there is no good with someone of my background even speculating on that question, so i won't. >> iran's president, mahmoud ahmadinejad, shown here at natanz in 2008, blamed the cyber attack on enemies of the state and downplayed the damage. both the u.s. and israel maintain that it set back the iranian program by several years. what's impossible to know is how much damage the attackers might have inflicted if the virus had gone undetected and not been exposed by computer security companies trying to protect their customers. >> they planned to stay in that plant for many years and to do the whole attack in a completely covert manner, that anytime a centrifuge would break, the operators would think, "this is, again, a technical problem that we have experienced," for example, "because of poor quality of these centrifuges that we are using." >> we had a good idea that this was a blown operation, something that was never meant to be seen. it was never meant to com
CNBC
Sep 13, 2012 4:00pm EDT
the united states. >> is this, do you think, a cue for folks to get into the market because mortgage rates potentially could go even lower? >> well, i think it's a great time to buy a house. i've been saying that for a long time now. when i say a long time, over the last year i've been telling people, go out and buy a house. this is the time to buy a house. hard to get houses finance because the banks aren't lending. try buying the house from a bank. if you buy it from a bank, they'll loan you the money to buy it because they want to bet it off their books. it's a great time to buy a house. pick a beautiful house, enjoy yourselves, and try buying it from a bank. >> good advice, donald. thank you. let me ask you about this election and bernanke. if romney win, should he keep bernanke on or lose him? >> well, i don't think he will. i'm not saying anything good or bad. i'm just saying i don't think he will. he's going to want to come in with his own team, as everybody really does. as usually you would. i think he'll probably come in with his own team. it's really a question you have to
CNBC
Sep 12, 2012 9:00am EDT
fading in the united states. some indexes they watch on a weekly basis have been lower recently and that will fuel a lot of talk about a bit of a slowdown. front-running the fed, guys, did you see what happened yesterday? i pointed out some of the biggest etfs in the high yield area. i'm talking about j&k had heavy volume and hitting new highs. why is that happening? a lot of people believe at the minimum the fed is going to extend forward guidance to keep interest rates low to at least 2015. all of that would be a big beneficiary to high-yield funds who are forcing people to go out on the yield curve. this is one simple way people are already anticipating exactly what the fmoc is going to be doing. back to you. >> terrific, bob. got to ask rick. looks like people sell bond, shift bonds to the dollar. rick is at cm group in chicago. >> thank you. i guess we should welcome europe to the same club the u.s. is in. lots of liquidity. maybe more liquidity coming. and a generally weak economy. welcome to the club. if you look at our charts, they pretty much reflect a lot of what central b
CNBC
Sep 11, 2012 4:00pm EDT
in the united states of america. that only comes from the private sector. that's where, i think, the romney approach, people will find to be the right one. >> this market has been rallying. of course, it seems to be working in obama's favor, even though it's probably has a lot more to do with the central bank and all of the easing out there than it does to the policies. is there any reason to believe that if this president is re-elected, then he moves to the center that, he does the policies that you're talking about that romney, of course, has been leading with? >> i think that's been my greatest disappointment, that we have not seen this government move more to a centerous approach to move the country forward. there were numerous opportunities to do that. i just don't think it aligns with where the president would like to take the country. there's one approach that says static pie, let's figure out how to split it up. that's the approach that's being taken. when they say we're all in this together, we're all in this together, but we're going to take from you and give to you. what w
CNBC
Sep 3, 2012 3:00pm EDT
exchange for every one barrel of oil that was actually being consumed in the united states. >> we talked to the largest physical trader of crude oil, and they told us that compared to the size of the investment inflows--and, remember, this is the largest physical crude oil trader in the united states-- they say that we are basically a flea on an elephant, that that's how big these flows were. >> yet when congress began holding hearings in the summer of 2008 and asked wall street banker lawrence eagles of j.p. morgan what role excessive speculation played in rising oil prices, the answer was little to none. >> we believe that high energy prices are fundamentally a result of supply and demand. >> as it turns out, not even j.p. morgan's chief global investment officer agreed with him. the same day that eagles testified, this email went out to clients saying, "an enormous amount of speculation" ran up the price, and "$140 in july was ridiculous." if anyone had any doubts, they were dispelled a few days after that hearing when the price of oil jumped $25 in a single day. september 22nd
CNBC
Sep 11, 2012 7:00pm EDT
people did terrible things to the united states and they were organized. it takes an awful lot to make sure that doesn't happen again. that's why the shield of america is important. intelligence services and people who understand what's happening around the world to help protect us so we don't have an attack. and then we have the sword, the military, men and women in uniforms, the ones that go out and fight to make sure we can be safe. we have to remember both. we do have an ongoing war on terror, maybe people don't want to call it that. that's what it is. today is a day of remembrance. we promised we wouldn't forget the victims, the hero, many became victims themselves, let's not forget the outstanding work of our intelligence community, men and women in uniforms and the diplomatic corps focusing on it as well. i also recognize the need for leadership. america must lead. no other country will do it. people don't have to love us around the world. they should respect us or fear us. >> i want to ask you, andy, you're the chief of staff, an old friend, you had a very senior position.
CNBC
Sep 9, 2012 7:30pm EDT
fact that the ecb bought some time. the clock is ticking in the united states, however, on the fiscal cliff, which you are very concerned about. the xpiration of the bush tax cuts and automatic spending cuts that come if there's no budget agreement. how do you view this playing out? what are the implications for the market? >> i think this is very important. last week maybe the point when investor sentence focuses on this instead of europe. first of all, the size of the fiscal cliff at about 650 billion, 4% of gdp. it would be hitting at a time when the economy is weak and particularly the consumer is weak. i do think this represents a big danger to the economy. the challenge is it's not discounted into the price. we're all talking about it, i've met very few investors who believe it will happen. if we do start to move to an environment where it becomes more likely, it will create volatility and also hit equity prices as well towards the end of the year. >> how do you invest against that kind of back drop? where would you put money to work right now? >> i think there are a couple of t
CNBC
Sep 18, 2012 6:00am EDT
europe where they long ago, tocqueville tried to convince the united states and the way things are done here and loved the way we did things here. and tried to write about it and talk about how when -- i have a chart to show that you we really have only gotten up to the 49% number in recent years. if we have that-wil -- here's t chart. you go back to 1962. and i think it was in the teens the number of people that paid no federal income tax. and it slowly steadily has been rising until 2009 where we're at 49.5%. so even in 1970, it was 12%. and we point out that payroll taxes, they pay sales taxes, i don't know whether they pay state income tax. >> those people paying 15.3% in social security taxes, i think it's a problem and this lays out the problems with our tax code. because if you're paying 15.3%, are you paying more than the 13.9% that romney pays. and i don't fault mitt roy in that for paying 13.9% and i don't pay the 49.5% who isn't paying either. it's a problem with our tax code. >> bring up -- i had a wiki description. this man came over here in the mid 19th century and looked
CNBC
Sep 19, 2012 2:00pm EDT
superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. save 50% on banners. [ male announcer ] fedex office. syou know, i've helped a lot off people save a lot of money. but today...( sfx: loud noise of large metal object hitting the ground) things have been a little strange. (sfx: sound of piano smashing) roadrunner: meep meep. meep meep? (sf
CNBC
Sep 4, 2012 3:00pm EDT
. prospers. to say manufacturing jobs in general are going to come back to the united states. most chinese products of low cost are going to go other places. they aren't coming back to the u.s. we have to recognize there's a dramatic ure ing in the world and everybody is part participating in it. >> we know the competitive situation always leans towards china because they've got much lower, you know, costs there. so companies are going to send workers to china and going to manufacture in china. what's great about china slowing down for the u.s.? >> i would agree with robert that, yes, there's a structural rebalancing going on. but this rebalancing is great because this enables for china's middle class to grow and create a service sector which can generate continued higher wages. that allows the private sectors in the developed economies to sell to china's middle class and not just depend on america's middle class. this way it gives a new engine of growth for nations around the world. and this is not priced into the markets. the markets have priced in the fact that china is slowing
CNBC
Sep 6, 2012 4:00am EDT
started. there actually in the united states has been a dip in new starts. usually there's an upswing in new starts in the recession. we have a very unusual recession going on here. i think it's largely driven by the origins of the recession, that it was a finance-based recession. this has rippled through in terms of credit into the economy and it's changing the nature of available capital resources for startups. although your concern is logical, i don't think it's what's happening right now. >> the number one concern people have about the u.k. is the proximity to europe. this seems to be the number one issue. you can't do anything about the back drop. the government has pinned its hopes on programs like the funding for lending scheme. do you think this does anything to encourage small businesses? >> there's a couple of points in there. i completely agree that we have a challenge that our largest trading partner is the e.u. there's little to be done about that per se. but funding -- the lending for business scheme is a challenge in the startup context in a number of levels. first of all,
CNBC
Sep 27, 2012 11:00pm EDT
the united states, jim, and about 20% to 25% of those individuals are unaware that they're infected. and what's most concerning is it's those individuals who are infected but unaware. they're responsible for 50% to 70% of the forward transmission. so our objective is to put as many tools out there as we can to make it easier for people to know their hiv status. >> do you envision a world where someone has unprotected sex, they would go to the drugstore and get this within 72 hours? >> we have spent a lot of time making sure consumers can understand the appropriate use of this product. it's not designed to detect infection immediately after someone is infected. but it's exactly the same technology that's used in doctors offices, hospitals and the public health market. this is the rapid leading hiv test in the united states and now we're making it available to consumers. >> our show has been focused on hepatitis c as the biggest opportunity in medicine. you've got a test for it, but you just don't think -- you talk about it as a billion dollar opportunity, but it's not as big for your
CNBC
Sep 4, 2012 2:00pm EDT
to the united states, especially in real estate. >>> the three bear cases for stocks, the same one, europe-china slowdown, also the bear case because we don't know how the movie is going to end. if you listen to the rabinni's of the world, we're all doomed. average company growth is slowing so the market may not command as high of a multiple and yield, fiscal cliff and we will pull a thelma and louise unless congress gets their act in gear. >> you just heard from brian the bull case and the bear case. let's see what our guests think. james camp, manager and bob. thank you very much for joining us. bob, i will start with you. you have to pick one, bear or bull for september. can't be raccoon or koala or wallaby. >> you will see a market impacted because of concerns out there. i mentioned, you still have europe, you still have china, you still have the fiscal cliff, the election, which will be very contentious. you take a look at what's actually going on, you actually have plan in europe and that will materialize. >> we have a plan? we really do this time? we heard many times we have
CNBC
Sep 20, 2012 6:00pm EDT
for almost a ye now. >> it's fort d in the united states, and there's the ford from overseas. europe bad, latin-american, bad. bed bath and beyond, norfolk southern, two different kind of businesses. norfolk is going off the rails, bed bad, looking good. >> coming up, bargain shopping? retailers have been on the rise, but after perusing the aisles cramer has --. >>> and later, making dough, dominos has been -- find us if it can claim the upper crust of the pizza population, when the ceo breaks some news in cramer's exclusive. just ahead. >>> plus 'tis the season? millions of people around the world will get their hands on the highly anticipated crown jewel of the apple empire. iphone 5, but don't, get ready to though everything you think you know about tech out the window. cramer's looking beyond apple and what he says may surprise you. all coming up on "mad money." >>> any moment there's stocks that might rally for a week or month or a season before they only go out of style. and then there are the long-term opportunities that we search for all the time here on "mad money." what i c
CNBC
Sep 18, 2012 9:00pm EDT
the second largest charitable organization in the united states. but since our story first aired, president obama lifted restrictions on federal funding for embryonic stem cell research. also, in 2009, tom cech stepped down as the institute's president. [ticking] coming up, meet the woman changing lives one child at a time. >> tell them this true story. here's a child that's battered. i just tell them the reality. i expect them to help. >> that's ahead when 60 minutes on cnbc returns. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. can help make you a better investor. our e-trade 360 investing dashboard shows you where your money is, live. e-trade pro is so usable you'll actually use it. and our apps are the ultimate in mobile investing. become a better investor at e-trade. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ [ticking] >> children are the most innocent casualt
CNBC
Sep 5, 2012 1:00pm EDT
, syria, china, the list of problems is long. is the word of the united states respected anymore on the global basis? >>> a new survey shows u.s. global competitiveness has fallen again. what do you blame? vote on that at finance.yahoo.com and we'll talk about that coming up. at usaa, we believe honor is not exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. i bought the car because of its efficiency. i bought the car because i could eliminate gas from my budget. i don't spend money on gasoline. it's been 4,000 miles since my last trip to the gas station. it's pretty great. i get a bunch of kids waving at me... giving me the thumbs up. it's always a gratifying experience. it makes me feel good about my car. i absolutely love my c
CNBC
Sep 5, 2012 12:00pm EDT
been taking growth away from europe and the united states and other areas through its mercantile policies and so essentially could fall apart and after three or four weeks we wouldn't notice. >> interesting. good to have you on the show. >> thank you. >> grasso how would you trade this one? >> you know what? everyone has been talking about how to pick the bottoms in iron ore, copper, steel, and coal. but the last guest obviously thinks that all of these are head fakes. so there's more room to the down side but there's got to be, to your point, there has to be a lot of bargains worth grabbing. but at this stage of the game i think you'd be fool hardy to rush into any of those names. >> pete, look. the shanghai composite is dreadful. >> yep. >> does it mean anything to how you would invest right now here in the united states? >> well, i think it depends on what your global picture is as far as the individual names that you're picking right now. how much is dependent on china? are you talking about the caterpillars of the world, starbucks and the growth? mcdonald's and the growth ov
CNBC
Sep 28, 2012 2:00pm EDT
more here at home in the united states but you're not really so sure about the exporting equation. why not? >> well, i mean, like you're saying, the natural gas prices have been increasing lately. that's because of increased domestic demand, particularly in the electric power sector where for the first time in american history we're fuelling more power plants with natural gas than with coal. the concern about ramping up exports of natural gas to a significant degree, we've got almost 15 proposed export terminals across the country. is it's going to be another form of demand which is going to increase prices. in fact, earlier this year the energy information administration estimated that if we export that gas, prices are going to rise at least 30%. and so that's of concern not just the household customers but also to industrial customers that are seeking to expand manufacturing capacity here in the united states. >> so you're saying at least 30%. but david with the volume of exports that we're potentially talking here, how much of a significant impact would you expect to see on pri
CNBC
Sep 3, 2012 1:00pm EDT
close to 850,000 of them in the united states, twice the number of atms. the new slot machines, the main attraction at casinos, are like high-tech video games. and states across america are increasingly relying on them to raise revenue: 38 states and growing, including pennsylvania. but the former governor ed rendell didn't appreciate some of our questions about it. >> you guys don't get that! >> i do get it. >> you're simpletons. you're idiots if you don't get that. >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we look at the world of big deals on wall street and in las vegas and examine the impact of high-speed computers in both places. we begin with perhaps the most famous investor of them all, warren buffett. his fame extends far beyond wall street, his oldest son, howard, not so much. and yet he's the person warren buffett wants to succeed him as chairman of berkshire hathaway, the mega holding company that buffett built. for most of his adult life, howard has been a corn and soybean farmer in nebraska and illinois. and as lesley stahl first reported in de
CNBC
Sep 14, 2012 6:00am EDT
in the united states, is that a good decision on his part? >> it's not my habit to comment on decisions of the sister institutions. i would only say that it demonstrates, also, that when you look at the advanced economy through the grade of the central banking, you see that we are all engaged in nonstandard measures. >> how worried are you about the fiscal cliff in the united states is this. >> i think it is part of course of the major issue that in the advanced world you have to cope with. >> but if it happens, does it bring on another recession in the united states? >> i'm sure that the u.s. leadership, whatever you have in the president discussion of course between the two major sensitivities, but a sense of the saw peer kror interests of the country will prevail. i'm absolutely confident in that. i don't trust that it is possible that the sense of the superior interests of the united states of america and by way of consequence of the entire of course advanced economy and by way of consequence the entire world. so i remain confident. >> and you have lot more faith in politi
CNBC
Sep 17, 2012 9:00am EDT
had it for decades. and i don't understand why the united states does not talk about trickle-up economics, take that 80%, educate them, make them pay taxes, and stop charging the top 5% more and more for what they create. why is that conversation not happening here? >> well, that's part of why inet, the institute for new economic thinking, was founded. james heckman at university of chicago and nobel prize-winning economist and i are working on a major program. we have 179 people worldwide on early-age human capital, early-age education which includes public health. >> you just have to put more resources into the education system to make it work. >> and better allocation of incentives, absolutely right. you're talking about a national tragedy. >> the word "resources" is loaded especially this week when we've got chicago teachers facing a potential injunction. >> yes. >> overturning citizens united, right, is not going to -- is not going to pacify what's happening outside. >> mm-hmm. >> neither is paying teachers more or giving them a shorter school year. right? >> i think if you
CNBC
Sep 7, 2012 4:00pm EDT
at. unlike europe and the united states, they can do stimulus on the fiscal side and the monetary side. that means they could miss out on the inflationary move. all year it's been about the u.s. you might see money coming out into other riskier areas of the globe. >> do we have to look at china or talking about the fed and ecb next week. >> absolutely we have to keep looking at china, i think a lot of their most as ifty issues, one of these days the lights will go on. i don't think it will be a good thing. i'm looking at three things. i think the conservative newspapers are going bonkers today, i urge everybody to go online and read it. secondly i think when it comes to labor force participation rate @ will push it down for all of the wrong republicans. i think we're going to potentially test 2000 in gold. >> all right, very good, thank you all. >> a lot of people talking about that 23 2,000 level for a long time. what about stocks. will they make any big moves, what do you think, bob? >> today's response was not very encouraging. we had a move today related to china. that was a s
CNBC
Sep 6, 2012 10:00pm EDT
president of the united states of america, barack obama. ♪ >> thank you! thank you! >> thank you! thank you so much. thank you. thank you so much. thank you. thank you very much, everybody. thank you. michelle, i love you so much. a few nights ago, everybody was reminds just what a lucky man i am. malia and sasha, we are so proud of you. and yes, you do have to go to school in the morning. and joe biden, thank you for being the very best vice president i could have ever hoped for and being a strong and loyal friend. madam chairwoman, delegates, i accept your nomination for president of the united states. now, the first time i addressed this convention in 2004, i was a younger man. a senate candidate from illinois who spoke about hope. not blind optimism, not wishful thinking, but hope in the face of difficulty. hope in the face of uncertainty. that dogged faith in the future which has pushed this nation forward even when the odds are great. even when the road is long. eight years later, that hope has been tested. by the cost of war, by one of the worst economic crises in history
CNBC
Sep 5, 2012 2:00pm EDT
, singapore, finland, sweden, the netherlands, germany and the united states. in a previous segment, john carney said to ignore the quote pinheads at the world economic forum. are you? >> i don't ignore them. i want to ask you a question. put the shoe on the other foot here. here's the list of what matters according to them for competitiveness. institutions, infrastructure, macroeconomy, health and primary education and higher education. my question to you is which candidate is talking about all five of these things? >> none. >> to what extent is the united states engaged in a debate of institutions, infrastructure -- >> i shouldn't say none. we are around the margins. >> around the edges. >> the three is big focus obviously. obama touched on education and as mitt romney -- >> if this stuff matters, we ain't talking about it. okay? we are talking about the deficit which matters. that's part of -- i've only showed you five of the 12 pillars they call them. guys, do we have those full screens back there? those charts i wanted to put up. put up the first one here. this highlights the d
CNBC
Sep 19, 2012 12:00am EDT
hughes medical institute remains the second largest charitable organization in the united states. but since our story first aired, president obama lifted restrictions on federal funding for embryonic stem cell research. also, in 2009, tom cech stepped down as the institute's president. [ticking] coming up, meet the woman changing lives one child at a time. >> tell them this true story. here's a child that's battered. i just tell them the reality. i expect them to help. >> that's ahead when 60 minutes on cnbc returns. if you are one of the millions of men who have used androgel 1%, there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel an
CNBC
Sep 21, 2012 2:00pm EDT
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CNBC
Sep 19, 2012 1:00pm EDT
quantitativizing in the united states. you don't fight the bang of england, the bank of japan, people's bank of china, the ecb and the fed. this ends up being good for risk assets over the next 6 to 12 months. we've added stocks to european equity, looking at emerging markets again which has lagged. ironically specifically in asia, in a follow-up to the chinese context right now. but there is a lot of opportunity right now. >> what about china? michelle set up some of the diplomatic tiffs going on between china and japan. if you look at china's economy, a lot of people have written china off in terms of its investment potential near-term. doesn't sound like you were doing that. >> i think people are overembellishing the downside. valuation show we're at significant discounts but in a very nacent domestic value. we're missing point with regard to 7% 208% growth is still very dynamic in china. they have beter response to the global markets. i think the reality to china is we don't want continued expectation of 10% growth. we want 7% growth domestic markets much more stable. but
CNBC
Sep 28, 2012 3:00pm EDT
think all of september the market has been moved, not by what's going on here in the united states, but what's been going on in europe, which says to me two things. one, any bad news out of europe is going to send the market down. two, eventually people are going to have to pay attention to what's going on in the united states. i'm expecting we're heading into earnings season, i'm expecting anemic growth, and eventually that's going to have to play into the situation here. i mean, i know you don't fight the fed, but eventually we have to come back to what's going on in terms of fundamentals and stop focusing on monetary policy. >> what do you think? are we going to focus on fundamentals? if you are, kurt, would you be a seller of this market? >> we are focused in on fundamentals. i think this has been a tug of war between the reflationists and some of the risk that's been perceived in the market. we're not investing in gdp. we're investing in earnings. so far, earnings has held up. so far this year the stock market has been doing well. we'll focus on earnings. in terms of am i a buyer h
CNBC
Sep 20, 2012 6:00am EDT
and when. >> the united states has not had a current the account surplus since 1991. if we were on the gold standard, we just might not have anymore gold left. >> didn't we pass that so long ago? >> the dollar is not a weak currency. the dollar probably needs to be weaker in order to be more competitive, but you can't say that about every currency in the world. certainly in japan the currency has gotten too strong and you now they have the additional problems because of all of the riots going on, the conflict in china over these islands. and that's going to hurt japan again. so japan needs more than just a currency fix. the united states i think you can argue the currency is overvalued in a more fundamental way, but japan has lots of problems. >> do you play currencies? good >> only through companies listed in the u.s. we're not hedging. >> not hedges because -- >> because if we knew where currencies have gone, you'd be the smartest person around. the euro goes to 1.30 -- so it's hard. you have to get fundamentals right and then currency will take care of it. >> what's the differen
CNBC
Sep 20, 2012 7:00pm EDT
against the west and the united states and it's interests. >> all this flag burning, american flag burning, which burns me up, probably burns you up just as much if not more. should been united states retaliate in some way for this flag burning? >> well t short answer is, it's more important than just defending the flag, it's defending our interests and our national requirements in that region. we have got to get engaged. we have got to get reengaged because if we don't, we're going to see more and more of this. >> many thanks, general mark kimet stayed up late for us in germany. i'm larry kudlow, we will see you tomorrow night. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with s
CNBC
Sep 6, 2012 7:00pm EDT
united states. four deficits in excess of a trillion dollars each so that more than a third of all the debt ever run up in the 236-year history of the united states, more than a third of it was under barack obama's presidency in the last three and a half years. who's going to pay off the debt? our children and a grandchildren. that's who is going to pay it off. that's where romney and paul ryan are calling for a growth agenda where we can start creating jobs in this country and not have economic growth of 1.7%, under 2% and a federal reserve board that believes we'll be in this shape for two years. that's why they say they will keep interest rates for another two years. >> you heard him talk about the debt created under president obama when the country was going off a fiscal cliff and the banks were seizing up. he never referenced the 5 trillion in debt generated under george bush while he was governor. he never referenced the two wars we didn't pay for. george bush was the first president in the history of the union to go to war and give people a tax cut instead of paying for it.
CNBC
Sep 26, 2012 11:00pm EDT
perma low growth, the united states. some income producers, growth names and stocks with solid dividend boosts and, of course, some gold. these have been the correct calls to make. i've stuck with this market because i believe europeans are not suicidal. so far so good on that front. at least of late. i believe chinese economy will simply come back by virtue of the fact there's a tremendous urban migration within china. i believe the federal reserve's stance, brought about you by ben bernanke, will serve as a bridge over fiscal cliff and not take us down. the federal stance will take higher paying dividend companies into gems, seeking income, we'll band in bonds of cash poor countries and buy cash rick countries with yields that well exceed treasuries and still own a lot of gold. there's not a nation on earth that doesn't want its currency lower. that reserve currency is gold. also not to toot my own horn too hard, but throughout this period i recognized primecy of some bigger stocks, intel, wells fargo, verizon come to mind or the recognition you must own, not trade, own apple until it
CNBC
Sep 18, 2012 7:00pm EDT
mitt romney president of the united states. i would also like to see mitt romney reach out to these people these 47% that he's been talking about. whom he disparaged in these remarks and make it plain that these policies are in their benefit. that by creating more incentives. by moving the country away from it's dependdency -- >> wait, we are going to come back. give everybody an opportunity. reach out for everybody. what is your take? >> you call this a dirty trick. using somebody else's own words is a dirty trick. >> they have had it since last may. that is the thing. and now the other side by the way is going to use another dirty trick because they have this type of obama saying i'm a redistributionist. >> those are his own words. he said it. don't deknny it. if robert costa is right. that means he hasn't had a good week since may. >> he may be in trouble but polls have romney neck in neck, a deed even race with obama. what is your take? >> my take is on the video, this was a chance to refocus the campaign on the right issue whose got the program that is going to build the econom
CNBC
Sep 18, 2012 4:00am EDT
anything more broad broadly? >> no, we've seen a huge rally this year particularly in the united states and i think we were due for it a bit of a correction. but overall the story has been one of tail risks and tail valuations. the relative valuations of stocks and bonds are extreme around the developed world and as central banks have moved in and removed some of the tail risks, as that has happened i think markets are a subdued global economy, because more global economy. >> well, oil certainly has gotten focus in the wake of the fed's move on qe infinity. is it your view that prices have further room to run if stocks do as well? i know you're sort of a little cautious on the macro picture here. but macro might not matter if there's more support from the central bank. >> i don't think that oil prices will get pushed up by the global economy that much the question is whether there be a coordinated attack on the nuclear iranian facilities. if that happens and disrupts oil supplies, that could obviously push oil prices much higher. so i think there is a certain amount of sort of middle east t
CNBC
Sep 14, 2012 7:00pm EDT
. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. >>> just minutes ago an activist judge struck down wisconsin's collective bargaining law saying it's unconstitutional on the state and federal level. this was governor scott walker's prime achievement for which he was re-elected on a recall vote. so here to break it down for us, cnbc contributor robert costa of "the national review." is this some dumb ass left-wing judge who is try to stop the recall
CNBC
Sep 27, 2012 9:00am EDT
. but here in the united states, with respect to the rally, i'm getting a large number of questions. we're getting a large number of questions about whether or not the stimulus boost from federal reserve easing is what it used to be, so to speak. i would remind people take a look at the last couple of instances, we've had similar measures. we've had similar instances of people wondering whether the fed was -- if i had $1 for every time we talked about the fed being out of bullets, i'd have lots of dollars. and we're going through that again. >> they would all be worth less. >> the previous dollar, yes. >> less than maybe ten years ago. not necessarily less than five years ago. >> shame on you for that populist comment there that you should be cutting taxes in europe. at what point do you think the spanish are going to cut taxes given the situation that they're in? shame on you for appealing to your republican base in such a shameless way. >> btig's clients would be interested to know that i had a republican base, but listen. at the end of the day, there isn't a sort of a one-size-fi
CNBC
Sep 14, 2012 2:00pm EDT
multiples for these markets, brian, we're at the same multiples we were in the united states in march of '09. obviously, in march of '09 in the united states, earnings were very depressed in europe because of the depressed. europe has the advantage of not only being able to grow multiples, but also to be able to grow earnings. i think for the united states, while we've got room for multiple expansion in the united states where we're at today, earnings are getting kind of topee. europe makes a better bet. >> the last time you came on several months ago when you were bearish the euro, have you also changed targets to several months ago? >> actually, i haven't, mandy. the euro is going to continue to appreciate. we've obviously gotten a really nice bounce here, up to around 131. we probably have a little more upside on a technical basis. but the whole key to the european recovery is around dr. draghi continuing to print money, and printing money is going to ultimately put downward pressure on the euro, and they need that to get the economy of the periphery to expand. >> if you're buying eur
CNBC
Sep 20, 2012 9:00am EDT
quite anxious to find a partner in the united states to roll it through america. talk me through that, if you would. >> this is a start in one of our hotels as a food and beverage outlet in t2000. people kept asking me who owns the franchise nor the noodle house, we want one in our place. i said, we own the franchise. so we started to put a whole franchise and team together on what i hope will be, and i think we have achieved it on a very professional basis. and when then we started to franchise in other units. we started with six units we own and operate in dubai. now we are operating 20 across the world. we actually have 123 signed up in our pipeline. and we would very much like to be in the united states. we have had discussions, serious discussions about taking the name out there on a franchise basis. so it just really grew out of one of the -- as a restaurant outfit in one of the hotels. >> let me ask you finally, you're a member of the hotel industry and you sit on one of the boards, and it is an industry finding its voice saying, we are and saying, look, we are jobs, we are gro
CNBC
Sep 7, 2012 1:00pm EDT
president of the united states i'll stop the divisiveness and do everything in my power to unite the american people! >> we'll break away from governor romney as he talks about this morning's jobs report a few moments ago. if you were with us, you saw the president in new hampshire speaking to his supporters. governor romney's saying that the unemployment picture at the current point is a national tragedy. emphasizing that unemployment has been above 8% now for some 40-odd consecutive months. sue, what we hear here are two candidates, president obama in effect saying i think the jobs numbers were very poor, not happy with them. >> exactly. >> i need congress to help me do something about it, laying some of the blame and maybe much of the blame on the opposing party and mr. romney saying by contrast the buck stops in the oval office. >> i can tell you, ty, the chatter down here has to do with congress, as well. everybody down here knows it's a tight race. that's why as bob mentioned they're watching the in-trade percentages move but regardless of who takes the white house, the debate
CNBC
Sep 19, 2012 6:00pm EDT
the yangtze is for good mesh. then the united states. here we have the fiscal cliff. the fiscal cliff is something we have moderate control over because it's a question of political will. kit be resolved. anything that can be resolved will be dealt with in some fashion. and i think that's why the stock market has been climbing despite the obvious chasm ahead of us. sure, there are other reasons that could cause the sell of stocks. valuations getting stretched if we have little growth ahead of us. twice in the last month federal express, man, they disappointed. twice, twice. it's been a real tale of woe. [ crying ] and what has happened? frankly, nothing. stock's pretty much unchanged. tonight we got a big disappointment from norfolk southern, the railroad. while the stock is being hit after hours, you know what? i bet you buyers come in and snap it up tomorrow at what will be considered real bargain prices a few weeks from now. that's because in this tape, in this market, disappointing earnings don't necessarily produce disappointing and lasting moves down for high quality stocks, emp
CNBC
Sep 13, 2012 6:00pm EDT
europe, which may be china stimulus, united states, then there's room enough for everybody. i think boeing is a dirt cheap stock and i really urge people to buy this. i've been doing it for my charitable trust. let's go to ira in california. ira. >> caller: hey, jim, this is ira, former marine corps captain serving in the first gulf war and a resident of passaic, new jersey. i've got a question about annalie. i want to do it as quick as possible so i don't get cut off over here. >> no, that's okay. >> caller: prior to the fed coming out this morning i saw a downgrade from some loon that has a 15.50 target on it and its concern is they only have a 50% profit margin versus chimera and agc which has 97% and 87%. enough of that. >> right. >> caller: my questions are -- i've got two little questions. i always do my research, but one thing i don't understand is now that the fed came out and he's buying back mortgage-backed securities at a rate of $40 billion a month -- >> right. >> caller: -- one, i don't know how that's going to affect a annaly long term with any prepayments -- >> okay.
CNBC
Sep 10, 2012 3:00pm EDT
business is growing. we're obviously throughout the united states. we're in many foreign countries. we're in latin america, we're in london, turkey, we're in china, we're in singapore, japan and other countries as we speak. and then our investment side, we're all over. we're invested in china, in the united states, obviously. some in latin america. anyplace we see an opportunity. >> finally, hank, no doubt you saw or heard about my interview with eliot spitzer, which at the end of the day, ended up to be a lot about you. what's your take? did you get feedback on that? >> yeah. you won. i mean, his waving around a document that happened to be nothing to do with what we're talking about, because what he was waving around, i'm told, was a termination by the federal court. but there was an appeal that overturned that. he didn't tell you about the appeal. >> right. hank, good to have you on the program. >> good to be with you. >> thank you for weighing in on the developments at aig, hank greenberg. over to you. >> we'll head toward the break here. markets still trading a little lower. hello, t
CNBC
Sep 20, 2012 12:00pm EDT
finding -- this is not frac -- shale gas coming from the continental united states. it's coming from underneath the gulf of mexico where you're not interfering with anybody's drinking water and so forth. and the bottom line is that the amount of gas that's been discovered over a huge expanse of territory is enough that if our government adopted an energy policy that favored natural gas for vehicles and power plants and so forth, we could move quite a way from shipping money out in return for oil in from countries that it seems this week don't like us very much. >> great to have you on the show. thanks so much for coming in. joan lapinn. >>> a popular tech stock taking a hit today. >> this story absolutely fascinates me. look at share of amazon. amzn. reuters reported walmart is going to stop selling kindle products. right? the stock dropped sharply. it has recovered most of the losses though it is down .75%. i went on the site myself to try to find it. the only thing you could do is find a few accessories. kindle is is off the website. they're going to sell out their inventory a
CNBC
Sep 12, 2012 3:00pm EDT
those good things. so you can start ordering them on friday. it starts deliveries in the united states the following friday on the 21st. we'll have more on this coming up all day here. let's get to brian shactman with his market flash. >> thank you very much, bill. there is news out there outside of apple. i want to take a look at dole foods, the iconic brand now a smaller cap company just under $1 billion. right around 1:00, the nikkei reported. the headline and the subheader, they reported a japanese company was acquire two dole food units for $1.7 billion. the subhead says they hope to reach an agreement this month. the price spiked. the stock is up 10%. back to you. >> thank you so much, brian. if world investors are right, get ready for another intervention to boost the economy. >> mean time, we're going to talk about whether it's needed or not. peter says any fed action is not going to help and it's wrong. others say the economy needs it right now. let's talk about it and get your perspective on this. peter, you saw the employment numbers last friday. you don't think we need more fed
CNBC
Sep 4, 2012 4:00am EDT
been improving somewhat, it's still actually quite sticky in the united states. badly there needs to be a dose of fiscal consolidation. we would say it's going to be 1.5% of gdp. in the eurozone it's -- if the uk it's 1.25. >> good to see you today. thanks for joining us. >>> german chancellor angela merkel is preparing for yet another meeting today -- >> how is she doing? >> it's one after another after another. she is set to hold talks with herman von rompuy. she's been having down time and having a few beers at a german beer festival. >> this is how she does it. >> the german chancellor did get on stage and called on germany to have solidarity. >> is she on the stage? there she is. i wonder if she would have a sash and flowers. she looks quite happy. >> she just wants the beer. >> is that post the beer? she looks like she's enjoying herself. >> love it. >> where do we go on the road to the beer festival? >> oktoberfest. >>> still to come, president obama is set to make his pitch for four more years in the white house as the democratic convention kicks off. could the real focus be
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